Sony Reportedly Seeking New President To Succeed Stringer

Sony, Japan's largest consumer electronics company, is reportedly looking for someone to succeed chairman and CEO Howard Stringer as president.

Citing people familiar with the matter, Bloomberg reports that the company is looking for someone to take over from Stringer as president.

The sources said that Stringer would retain the position of chairman and CEO and that the hiring of a new president would allow him to delegate some of his responsibilities and focus more on Sony's future plans.

According to Bloomberg, Hiroshi Yoshioka, executive deputy president of Sony Corp and Kazuo Hirai, president and chief executive officer of Sony Computer Entertainment, are both being considered for the position.

Kohi Toda of Resona Bank in Japan told Bloomberg: “Stringer should be credited for carrying out structural reforms to stop the company from bleeding. Nevertheless, Stringer hasn’t managed to steer the company to growth. His accomplishment was rather earning time and energy for Sony to get ready for the next growth.”